Company Announcements

Offerpad Renovate becomes an Auction.com preferred provider

TEMPE, Ariz. & IRVINE, Calif.--(BUSINESS WIRE)--May 6, 2025-- Offerpad (NYSE: OPAD), a leading real estate tech company offering flexible ways to buy and sell homes, and Auction.com, the nation’s leading online marketplace, today announced a strategic partnership to transform how homes are bought and sold. By aligning their strengths and capabilities, the companies aim to deliver greater value, speed, and care for buyers, sellers, and communities.

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As part of the collaboration, Offerpad’s Renovate division will become a preferred partner of renovation services for buyers ranging from local community developers to institutions acquiring properties. This service complements Auction.com’s marketplace scale with Offerpad’s renovation expertise, enabling buyers to more easily transform acquired properties into high-quality, move-in ready homes.

Additionally, Auction.com’s SmartSale™ platform will extend Offerpad’s ability to serve its homeowners’ competitive offers through expanded buyer reach.

“This partnership brings together two companies with a shared commitment to improving communities through smart real estate solutions,” said Brian Bair, Chairman and CEO of Offerpad. “Renovate was built from the ground up to deliver quality work with speed and care, and working with Auction.com allows us to bring that expertise to more homes and more partners across the country.”

Offerpad launched its Renovate business after years of developing in-house expertise through its own home inventory operations. What began as an internal function has evolved into a B2B renovation platform across the country, now serving institutional clients nationwide. In Q1 2025, Offerpad reported a record quarter for Renovate, with over 200 completed projects and $5.3 million in revenue—the highest total since the division’s launch. Nearly half of the volume now comes from institutional clients, with top performance in Texas, Georgia, Colorado, Tennessee, and Kansas.

“We’re excited to partner with Offerpad to bring together two of the leading real estate marketplaces,” said Ali Haralson, President of Auction.com. “This partnership strengthens our ability to serve sellers and buyers at scale — from local community developers to institutional investors — while helping neighborhoods thrive."

Together, Auction.com and Offerpad are streamlining the process of transforming properties into move-in ready homes. This gives buyers a trusted path to renovate properties efficiently, offers sellers access to a vast, nationwide buyer base, and helps communities revitalize faster.

This collaboration also reflects Auction.com’s purpose-driven mission to unlock more efficient, transparent, and inclusive ways for people to buy and sell real estate — including innovations like SmartSale™, which integrates traditional selling paths into its trusted marketplace.

About Offerpad

Offerpad, dedicated to simplifying the process of buying and selling homes, is a publicly traded company committed to providing comprehensive solutions that remove the friction from real estate. Our advanced real estate platform offers a range of services, from consumer cash offers to B2B renovation solutions and industry partnership programs, all tailored to meet the unique needs of our clients. Since 2015, we've leveraged local expertise in residential real estate alongside proprietary technology to guide homeowners at every step. Learn more at www.offerpad.com.

About Auction.com

Auction.com is the nation’s leading online investment property marketplace, with over 533,000 homes sold and $66 billion in transactions. While known for its leadership in foreclosure and REO auctions, Auction.com also helps sellers bring traditionally listed properties to market through SmartSale™, a platform combining the control of a traditional sale with the transparency and scale of Auction.com’s marketplace. With tools like Remote Bid™ and data-driven insights, Auction.com empowers sellers, expands access to homeownership, and supports local communities. The platform serves homeowners, investors, and community developers dedicated to revitalizing neighborhoods and unlocking real estate value. Learn more at www.auction.com.

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Press Contact:
Cortney Read
Chief of Staff & VP, Operations
press@offerpad.com

Source: Offerpad